Used van values reach record high in August
22 September 2016
Author: Daniel Puddicombe
The average value of used vans sold at auction rose above £6000 for the first time in August, the latest BCA Pulse report has revealed.
According to the remarketing giant, the average van sold during the month sold for £6089, an increase of £158 (2.6%) compared with July, and up by £582 (10.5%) year-on-year.
Ex-fleet and lease van values increased by just £1 in August, however year-on-year values were up by £592 (9.5%), while part-exchange van figures broke the £4000 barrier for the first time since January thanks to a £282 jump during the month. Year-on-year values, meanwhile, were up by £220.
Nearly-new LCV values, meanwhile, averaged £14,775, a rise of £414 when compared with the previous month, but BCA said this was down to a very low number of vehicles reaching the used market.
"The LCV market in August was particularly strong at BCA considering the holiday season was still in full swing. Conversion rates improved and demand was significantly stronger than we had seen in July," said Duncan Ward, BCA's head of commercial vehicles. "To put it into context, a year ago the headline average value was falling and fleet & lease vans recorded their lowest monthly value since July 2013. Since then average values have steadily improved, climbing across the board by around 10.5%. However, there is no room for complacency as volumes have risen steadily in the wholesale markets and questions remain over poor condition stock."